Home' The Channel Magazine : National Newsagent August 2012 Contents Australians are moving west, we’re paying
more rent, we’re not moving out of home and
we’re all getting older.
The figures relating to these changes in
Australia’s population all reveal opportunities
for your business.
Smart Company’s Cara Waters suggests 10
1. Go west
Go west in Sydney, west in Melbourne and
west in Australia, as that is where the growth is.
Melbourne’s population increased 9.7%
from 2006, with the strongest growth in
Wyndham, in Melbourne’s west, up 43.4% .
Western Australia’s population grew at the
fastest rate in the nation, swelling 14% in five
years while Tasmania’s grew 4%.
Perth has become a higher-income city than
Sydney, boasting a typical household income of
$75,868, a touch above Sydney’s $75,244 and
Darwin and Canberra are by far the highest
earning capitals, typically taking in $93,912
and $99,840 per household. Hobart remains in
last place with a typical household income of
KNOW THE DEMOGRAPHIC
OF YOUR AREA AND MARKET
BE ALERT TO POPULATION
2. Invest in a rental property
There are good returns to be found in rental
property at the moment with median rental
payments up by $95 per week between 2006
and 2011, according to the census.
This represents a 50% increase over the
five-year period with the median national
weekly rent is now $285 per week, compared
with $190 in 2006.
The 2011 census also found that the
proportion of households with rent payments
greater than 30% of household income, the
common definition of rental stress, rose slightly
from 9.3% to 10.4%
MORTGAGE STRESS ABSORBS
SPARE CASH. APPEAL TO
3. Empty nesters are out: more people
living at home is in
For the first time since European
settlement, there has been an increase in the
number of people per home.
One hundred years ago there were almost
five people in the average home while today
there are just 2.63 people per home. However,
this represents a small increase from 2.61
people per occupied private dwelling in 2006.
MIX OF HOUSEHOLDS
AGE GROUPS = MORE
4. Apartment living is on the rise
The proportion of people living in detached
houses has fallen by one percentage point
between 2006 and 2011, with a shift towards
more people living in units and townhouses,
according to census data.
FEWER GARDENING MAGS,
MORE VIDEOS, GIFT RANGE OF
5. Consumers have less cash in their
Businesses have to work hard to get
consumers to hand over their hard-earned
cash as increased rental and mortgage costs
mean they have less buying power than before.
Inflation may be low, which makes it look
as if disposable income is holding up, but the
really big expenses are soaring. The typical
household rent has jumped 49%, the typical
household mortgage payment 38 %, increasing
by $500 between 2006 and 2011.
For 9.9% of households, their mortgage
repayment was more than 30% of their
income—the common definition of mortgage
stress—up from 8.4% in the 2006 census.
LOW COST ITEMS MORE
6. There are more migrants and more
people age 25-29
Don’t aim your business at white Australia
because Australia hasn’t looked that way for
quite a while.
In 2009, the addition of 394,000 people
was the highest single annual increase to
Australia’s population, and the annual growth
rate of 1.8% was unmatched since 1972.
Migration was a significant factor in the
population growth during this period. The effect
of this high level of migration can be seen in
the 25-29 years age group in 2011, where there
were an additional 385,000 people.
CHANGE AS THE LOCALS
7. There’s a baby and toddler boom
Times are looking good for Baby Co, Baby
Bunting and childcare providers everywhere.
Fertility in Australia peaked in 2008 at 1.96
babies per woman, an increase linked to a
catch-up in fertility following the delayed fertility
that had been observed over previous decades.
The effect of this increase in fertility can be
seen in the greater size of the 0-5 years age
group compared with the next older age group.
BABY GIFTS, BOOKS, AND
EDUCATIONAL TOYS; DON’T
FORGET GRANDMAS HAVE
MONEY TO SPEND
8. But we’re all getting older
The census figures show that in 2011,
14% of the population was aged 65 or over
compared with 4% back in 1911.
Also, the lower fertility that has prevailed
over the last 30 years has meant there
are relatively fewer younger people to
KNOW YOUR NUMbERS
The 2011 census data released in June by the Australian Bureau of Statistics
shows some key trends on which your business can capitalise.
KNOW YOUR NUMbERS
National Newsagent August 2012
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